AUSTRALIAN DEALINGS

New Zealand Herald, Volume LXXVII, Issue 23591, 27 February 1940, Page 3

AUSTRALIAN DEALINGS

MARKET OPENS QUIETLY BUYERS MORE ACTIVE LATER (Heceived February 26, 9.30 p.m.) SYDNEY, Feb. 26 Trading on the Stock Exchange today was very quiet until the afternoon, when buyers took the initiative in a weakening industrial market. Sales included : £ s d Bank New South Wales .. 28 5 0 Ditto 28 4 0 Commercial Bankinr Sydney 19 3 0 "VVilcox-Mofflin .. .. 0 7 8 Ditto (N.Z. delivery) .. 0 7 8 Howard Smith .. .. 14 7% Tooth's Breweries .. .. 213 O Ditto . . .. .. 2 12 9 Anthony Hordern .. .. 013 3 A.C.I. 1 17 0 Broken Hill Proprietary .. 2 8 0 British Tobacco .. ... 2 9 0 Ditto (pref.) .. .. 17 6 Colonial Sugar ~ .. 49 15 0 Electrolytic Zinc (pref.) .. 2 17 6 General Industries .. .. 0 17 3 Henry Jones . .. .. 215 0 Lustre Hosiery .. .. 110 Millaquin Sugar .. .. 22 3 MELBOURNE EXCHANGE £ S d Nat. Bank A'asia (i! 5) .. 6 4 0 Bradford Cotton .. ... 1 16 3 Broken Hill Proprietary 2 7 10 Herald and Times . .. 2 17 6 Mount Lyell .. .. 1 13 6 North Broken Hill .. .. 2 6 3 Emperor .. .. . • 014 3 Loloma .. .. . • 1 13 6 Mount Morgan .. .. O 10 6

DUNLOP PERDRIAU STEADY INTERIM DIVIDENDS The Dunlop - Perdriau Rubber Company, Limited, Melbourne, has advised the' Stock Exchange Association that it has declared for the half-year ended December 31 interim dividends of 5 per cent on the cumulative preference shares and 3} per cent on ordinary shares. The rates are unchanged. The Barnet Glass Rubber Company, Limited, Melbourne, the ordinary shares of which are held by the DunlopPerdriau Company, lias declared 111terirn dividends for the same period of 4 per cent on the 8 per cent cumulative participating preference shares and 3} per cent on ordinary shares. The rates are unchanged. In the past two years the final payments have increased the year's distributions to 10 per cent and 12 per cent respectively. M.K. MANUFACTURERS YEAR'S PROFIT OF £5454 A net profit of £5454 # is; reported by M.K. Manufacturers, Limited, for the year ended December 31. This compares with a loss of £4982 in 1938 and a profit of £5271 in 1937. The directors state that the amount of the reservo for income tax was not sufficient to provide for income tax payable on the profit in 1937 and it. was necessary to appropriate £314 of the past year's profit for this X'urpose. A reserve of £9OO lias been made for direct taxation in respoct of the year just closed and this is considered sufficient. The debit in the profit and loss appropriation account at the commencement of the year was £6979, and the addition of the two taxation items made a total of £8193, against -which it is proposed to set off the following:—Net profit, £5454; general reserve, £2100; special ihvestirients, reserve, £4B. This will leave a debit of £591. No dividend is proposed. In 1938 6 per cent was distributed. The company's operations have been carried on in its new factory aince May and this, it is stated, lias resulted in more efficient and economical working. Certain contracts for military supplies have been undertaken. The balance-sheet total at £63,574 is £5484 lower. The amount owing to the bank is £19.251 less at £7504, while creditors and bills payable total £13,145, against £3924 a year aco. Debtors are £5294 lower at £13,820 and stock is £lOl6 greater at £21,780.